Aston Martin has a successful bond issue
Luxury carmaker raised $150 million from a bond issue, with the option to raise another $100 million at an interest rate of 15 per cent if order targets are met, which could improve the company’s liquidity in an uncertain trading environment.
The company has raised $150 million from a bond issue
Stocks impacted: Aston Martin Lagonda (AML)
Aston Martin’s $150m raise involved 12 per cent notes due in 2022. Despite continuing pressure on sales volumes, the company expects to meet current analyst consensus for key financial metrics for FY 2019, with its capital expenditure for the full year 2020 is not expected to exceed £350m. Aston Martin expects economic headwinds and uncertainty to continue, Chief Financial Officer Mark Wilson noted. The company’s shares are losing over 4% during the trading session in Europe.
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